Carphone Warehouse 2016 Annual Report Download - page 111
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109
5 Employee costs and share-based payments continued
b) Share-based payments continued
ii) Share option schemes continued
The following table summarises the number and weighted average exercise price of share options for these schemes:
Year ended
30 April 2016
13 months ended
2 May 2015
Number
million
WAEP
£
Number
million
WAEP
£
Outstanding at the beginning of the period 17 — 9 —
Dixons options assumed on Merger — — 1 —
Granted during the period 1 — 11 —
Lapsed during the period (4) — (3) —
Exercised during the period — — (1) —
Outstanding at the end of the period 14 — 17 —
Exercisable at the end of the period — — — —
Year ended
30 April
2016
13 months
ended
2 May
2015
Weighted average market price of options exercised in the period — £4.18
Weighted average remaining contractual life of awards outstanding 8.3 yrs 9.1 yrs
Exercise price for options outstanding £nil £nil
iii) SAYE scheme
The Group has SAYE schemes which allow participants to save up to £500 per month for either three or five years. At the end
of the savings period, participants can purchase shares in the Company based on a discounted share price determined at the
commencement of the scheme. Participants in the Dixons Retail plc SAYE scheme had the opportunity to roll over their awards
into options over shares in the merged entity, Dixons Carphone, on completion of the Merger. Employees who chose to roll over
received 0.155 options in Dixons Carphone in exchange for each Dixons option held. The savings period and exercise date of
these options remain unchanged. If employees chose not to roll over their options, they could exercise the value saved within
six months of the Merger in return for 0.155 Dixons Carphone shares for each Dixons option held.
The following table summarises the number and WAEP of share options for these schemes:
Year ended
30 April 2016
13 months ended
2 May 2015
Number
million
WAEP
£
Number
million
WAEP
£
Outstanding at the beginning of the period 13 2.71 3 2.24
Dixons options assumed on Merger — — 6 1.20
Granted during the period 4 3.77 7 3.44
Exercised during the period (2) 1.03 (2) 2.24
Lapsed during period (2) 3.13 (1) 1.76
Outstanding at the end of the period 13 3.22 13 2.71
Exercisable at the end of the period — — — —
Year ended
30 April
2016
13 months
ended
2 May
2015
Weighted average market price of options exercised in the period £4.38 £3.82
Weighted average remaining contractual life of awards outstanding 2.6 yrs 2.8 yrs
Range of exercise prices for options outstanding
£2.09 –
£3.77
£0.92 –
£3.44
00_DC 2016 Annual Report.pdf 109 11/07/2016 18:34